Question 2 of 10beginner🧠 RememberMCQ1 mark

In which one of the following types of economy are the factors of production owned individually?

Exercise: EXERCISES | Q: 1(ii) | (Page Page 8)
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Explanation

Option (A) Capitalist is correct. According to the textbook context, Private Sector Industries are owned by individual investors and are managed by private organisations. The context explicitly states that 'In capitalist countries, industries are generally owned privately.' This means that in a capitalist economy, the factors of production are owned individually by private investors. In contrast, socialist countries have many state owned industries, and mixed economies have both Public and Private sector enterprises.